Rothschild & Co. Asset Management US Inc. increased its holdings in shares of Life Storage Inc (NYSE:LSI) by 71.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 360,755 shares of the real estate investment trust’s stock after purchasing an additional 150,521 shares during the quarter. Rothschild & Co. Asset Management US Inc. owned approximately 0.77% of Life Storage worth $34,329,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in LSI. Daiwa Securities Group Inc. boosted its holdings in Life Storage by 22,651.8% during the third quarter. Daiwa Securities Group Inc. now owns 1,456,114 shares of the real estate investment trust’s stock worth $138,564,000 after purchasing an additional 1,449,714 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Life Storage by 21.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,425,183 shares of the real estate investment trust’s stock worth $325,940,000 after purchasing an additional 608,989 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Life Storage by 6,003.9% during the second quarter. Advisors Asset Management Inc. now owns 444,184 shares of the real estate investment trust’s stock worth $661,000 after purchasing an additional 436,907 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Life Storage by 1,718.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 335,509 shares of the real estate investment trust’s stock worth $31,968,000 after purchasing an additional 317,057 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new position in Life Storage during the third quarter worth $23,982,000. Institutional investors and hedge funds own 97.65% of the company’s stock.
NYSE LSI opened at $96.06 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.28 and a current ratio of 0.28. Life Storage Inc has a 1 year low of $76.42 and a 1 year high of $102.91. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 3.89 and a beta of 0.33.
The company also recently declared a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Tuesday, October 16th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend was Monday, October 15th. Life Storage’s dividend payout ratio (DPR) is currently 75.33%.
In other Life Storage news, President Kenneth F. Myszka sold 5,000 shares of the company’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $94.39, for a total transaction of $471,950.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.80% of the company’s stock.
LSI has been the subject of several recent research reports. DA Davidson increased their target price on shares of Life Storage to $105.00 in a report on Friday, August 3rd. ValuEngine upgraded shares of Life Storage from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Zacks Investment Research upgraded shares of Life Storage from a “hold” rating to a “buy” rating and set a $113.00 target price for the company in a report on Thursday, August 23rd. BMO Capital Markets restated a “hold” rating and set a $87.00 target price on shares of Life Storage in a report on Wednesday, August 1st. Finally, SunTrust Banks restated a “hold” rating and set a $95.00 target price on shares of Life Storage in a report on Monday, September 24th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $91.50.
Life Storage Company Profile
Life Storage, Inc is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self storage facilities. Located in Buffalo, New York, the Company operates more than 700 storage facilities in 28 states. The Company serves both residential and commercial storage customers with storage units rented by month.
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